UPDATE 1-China March copper imports rise 25% from year ago on firm demand

(Updates with details, background)

April 13 (Reuters) – China’s copper imports in March rose 25% from a year earlier, customs data showed on Tuesday, despite disruptions to shipments from top producer Chile.

Arrivals of unwrought copper and products totalled 552,317 tonnes last month, the General Administration of Customs said.

That was up from 441,926 tonnes in March 2020, when China’s economy was starting to recover from the coronavirus pandemic, and up 34.7% from a 13-month low of 410,040 tonnes in February.

Copper imports in the first quarter totalled 1.44 million tonnes, up 11.9% year-on-year. That is the highest first-quarter amount since at least 2008, according to Reuters data.

Imports of copper concentrate, or partially processed copper ore, were 2.17 million tonnes in March, a record amount based on Reuters data. Imports were up 22% from 1.779 million tonnes a year earlier, and up 20.5% from 1.8 million tonnes in February.

First-quarter shipments of concentrate, the supply of which is very tight globally, were up 7.4% year-on-year at 5.96 million tonnes. That is the highest first-quarter amount since at least 2008, Reuters data showed.

China’s exports of unwrought aluminium and aluminium products fell 14.5% year-on-year to 443,484 tonnes in March, customs said.

That was up 18.8% from 373,349 tonnes in February, which was the lowest in eight months.

Source: Read Full Article